All Forum Posts by: Chinyere Orie

I would bring a contractor when viewing the property. Also, Bigger Pockets has a book called "The Book on Estimating Rehab Costs." I haven't used it personally, but I've heard plenty of great reviews on how helpful the book was in estimating rehab costs. It also has great reviews on Amazon. Good luck!

1 Vote

She spoke way too soon...she should have waited until everything was signed.

0 Votes

I'm actually starting to convert my facebook to a CRM...using it to stay in contact with leads, prospective clients, and former clients. I've used several different CRMs in the past and I've always felt they had features I didn't need and the features they did have, I didn't like. I feel like facebook lets me be genuine and authentically connect with people without feeling like I'm continuously marketing to them.

5 Votes

Originally posted by @Cortney Arenstein:

@Eric Malone Thanks for posting this. Sure opened up a healthy debate and something we will ALL have to think about from now on. I found myself flip flopping on my initial position multiple times as I read through the comments. “Wow good point!” And “Huh. Had not thought of that!” LOL. Social media influencers are not going away any time soon. It’s a growing industry. It’s marketing. Just marketing that is accessible to anyone with a phone. While I am leaning toward the “Pro” contingent, (logical arguments abound) I do think there is a reason we sometimes get a gut check like the one you are having. 100% of the times I rationalized myself into ignoring that gut check I have regretted it. One big question though—how does she have a W2 as an IG influencer? Wouldn’t she be self-employed and getting 1099s from brands that pay her to mention their products? Maybe this is just my ignorance about how IG stars are paid but I would have assumed they were bot considered “employees” by any company but their own? (Is she maybe paying herself a W2 salary from her corporation?) just curious.

Same here! I kept going back and forth based on the opinions posted. But I agree 100% to follow your gut. That gut check will never steer you wrong.

1 Vote

Originally posted by @Ozzy Sirimsi:

I personally don't focus on zip codes, what I can tell you 21234 and 21206 will have 3-4 unit properties that are converted from single family houses, they have weird layouts and most of them run down but decent neighborhoods . I also like 21239, but there are some neighborhoods in that zip code that I would skip it.

Dundalk is dundalk :D)))

rest of yours has good and bads in them, so better to check neighborhoods.

Upper Half of 21216 could be nice too, forest park area.

Awesome! Thanks

0 Votes

Baltimore, Maryland

If he's never done RE investing before, he should probably do something less risky, like a buy and hold rather than doing a flip and going all in with his cash. If he can find a cheap one where he can add value, put down as little as possible, and take his time to rehab and rent it out. Whatever avenue he chooses, I definitely recommend NOT using all his cash on one deal. Good luck to him!

0 Votes

Hey everyone! So I'm looking to buy my first buy and hold property in Baltimore. What are some of your favorite zip codes in Baltimore city/county for rentals? I'm looking to buy a 1-4 unit home and I've narrowed it down to several zip codes: 21234, 21239, 21222, 21228/29, 21206, 21209, and 21225. Thoughts?

2 Votes

Baltimore, Maryland

Originally posted by @Dennis Burian:

@MarieChele Porter

The family clearly made a good impression or you wouldn’t be here. We have some experience with this as within our longest term tenant family, the husband was convicted of manslaughter in his youth and did his time. Wife with 3 kiddos stuck by him while he was away which was a big factor in their favor. I don’t remember his sentence but it wasn’t trivial, several years.

Your question regards your liability but if they’re really trying to fly right and not gaming you, that won’t be an issue. At the end of the day, your screening criteria are much the same as any other applicant. Verify the story your being given as best you can. I’d pay attention to the wife as much as the husband because her past performance is the best predictor of the future that you have. If they are new to the current state of residence, I’d dig into public records in previous states best you can. If it costs a couple bucks, you can add it to their app fee.

Two things in favor of the candidate, he already has a job (I assume they qualify financially, my guy couldn’t find work for years because of the conviction). Second, assuming they pass and you rent to them, they’ll likely be model tenants because they’ll know their choices are limited if they screw it up: an ex-con with an eviction would be poison to most landlords.

Are we still having fun?

Dennis Burian

Rent OKC Metro, LLC

PS. The tenant I referred to above has been with us 14 years.

I agree with this 100%. Some people have a clean background and cause so much trouble as a tenant. He seems to be trying to do right (as he's already employed) and they've been open and honest with his background. If his reference check out, I don't see his background as an automatic disqualification.

0 Votes

I would talk to the PM and see if you will be able to increase the rent to increase your cash flow in the near future. Sounds like a lot of repairs to take on for a property that only cash flows $100/month. Also, it doesn't sound like the property was quite "turn key" as they promised. Is there a warranty on the property? The whole point of buying those turn key properties from those companies is peace of mind, which isn't the case here.

0 Votes

All Forum Posts by: Chinyere Orie

Chinyere Orie has started 3 posts and replied 96 times.

Post: Rent to own help needed

Post: First Time Investor - Contractor Questions

Post: Agent relisted property after my offer accepted.

Post: AGENTS: Let's Talk CRMs - The Good, The Bad, The Ugly

Post: Renting to a Instagram star?

Post: Favorite Baltimore zip codes to invest in?

Post: Inherited $150k..... NOW what??

Post: Favorite Baltimore zip codes to invest in?

Post: Renting to a violent felon?

Post: First rental turned out to be negative cash flowed.